Explanatory Memorandum to COM(2007)340 - Preliminary Amending budget N° 5 to the budget 2007 - General statement of revenue - Main contents
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| dossier | COM(2007)340 - Preliminary Amending budget N° 5 to the budget 2007 - General statement of revenue. |
|---|---|
| source | COM(2007)340  |
| date | 21-06-2007 |
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52007DC0340
PRELIMINARY DRAFT AMENDING BUDGET N° 5 TO THE GENERAL BUDGET 2007 General statement of revenue /* COM/2007/0340 final */
[afbeelding - zie origineel document] COMMISSION OF THE EUROPEAN COMMUNITIES
Contents
- Brussels, 21.6.2007
- GENERAL STATEMENT OF REVENUE
- GENERAL STATEMENT OF REVENUE
- Table of contents
- 1. Introduction 4
- 2. Revision of the Forecast of TOR, VAT and GNI Bases 6
- 3. 2003 UK Correction and 2006 UK Correction 7
- 3.1. Calculation of the corrections 8
- 3.1.1. 2006 UK correction 8
- 3.1.2. 2003 UK correction 9
- 3.2. Entry in the PDAB 5/2007 of the first update of the 2006 UK correction and of the definitive amount of the 2003 UK correction 10
- 3.2.1. 2006 UK correction (chapter 15) 10
- 3.2.2. 2003 UK correction (chapter 35) 10
- 1. INTRODUCTION
- amounts in euro
- 2. REVISION OF THE FORECAST OF TOR, VAT AND GNI BASES
- Revised forecasts of TOR, VAT and GNI bases for 2007 (in EUR million)
- 3. 2003 UK CORRECTION AND 2006 UK CORRECTION
- 3.1. Calculation of the corrections
- 3.1.1. 2006 UK correction
- 2006 UK correction Provisional Budget 1st update PDAB 5/ Difference
- 3.1.2. 2003 UK correction
- 2003 UK correction 1st update AB 8/ Definitive PDAB 5/ Difference
- 3.2. Entry in the PDAB 5/2007 of the first update of the 2006 UK correction and of the definitive amount of the 2003 UK correction
- 3.2.1. 2006 UK correction (chapter 15)
- 2006 UK correction chapter
- 3.2.2. 2003 UK correction (chapter 35)
COM(2007) 340 final
PRELIMINARY DRAFT AMENDING BUDGET N° 5 TO THE GENERAL BUDGET 2007
(presented by the Commission)
PRELIMINARY DRAFT A MENDING BUDGET N° 5 TO THE GENERAL BUDGET 2007
Having regard to:
- the Treaty establishing the European Community, and in particular Article 272 thereof,
- the Treaty establishing the European Atomic Energy Community, and in particular Article 177 thereof,
- the Council Regulation (EC, Euratom) No 1605/2002 of 25 June 2002 on the Financial Regulation applicable to the general budget of the European Communities i, as last amended by Council Regulation (EC, Euratom) No 1995/2006 i, and in particular Article 37 thereof,
The European Commission hereby presents to the budgetary authority the Preliminary Draft Amending Budget No 5 to the 2007 budget for the reasons set out in the explanatory memorandum.
3.2. Entry in the PDAB 5/2007 of the first update of the 2006 UK correction and of the definitive amount of the 2003 UK correction 10
GENERAL STATEMENT OF REVENUE
The general statement of revenue is forwarded separately via the SEI-BUD system. An English version of the general statement of revenue is attached for information as a budgetary annex.
The Preliminary Draft Amending Budget No 5 to the Budget for 2007 (PDAB 5/2007) covers the following points:
- The revision of the forecast of traditional own resources (TOR, i.e. customs duties, agricultural duties and sugar levies), VAT and GNI bases and the budgeting of the relevant UK corrections as well as their financing, resulting in a change in the distribution between Member States of their own resources contributions to the EU budget.
- The repayment of the surplus from the Guarantee Fund for external measures.
Article 7 of Council Decision (EC, Euratom) 2000/597 states that " …surplus from the Guarantee Fund arising from external measures, transferred to the revenue account in the budget, shall be regarded as constituting own resources ". Thus in addition to the revision of the forecasts of own resources, the PDAB 5/2007 enters an amount of EUR 260 940 125 as a result of the repayment referred to in Article 1 i of Council Regulation (EC, Euratom) No 2273/2004 i.
The reason for this surplus is that all operations carried out for the benefit of a third country or for the purpose of financing projects in a third country shall fall outside the scope of Council Regulation (EC, Euratom) No 2728/94 of 31 October 1994 establishing a Guarantee Fund for external actions, with effect from the date on which that country accedes to the EU. The above amount results from the repayment to the general budget of the amount corresponding to the provision of outstanding capital liabilities for Bulgaria and Romania at 1 January 2007.
- The impact of changes in the Financial Regulation on the revenue side.
All the recent amendments to the Financial Regulation have entered into force by 1 May 2007 i. Moreover Regulation (EC, Euratom) No 2342/2002 laying down detailed rules for the implementation of the Financial Regulation has been also amended i. Therefore appropriate changes will need to be made in the PDAB 5/2007.
Three new budget lines (6330, 6331 and 6332) have been created to accommodate financial contributions from Member States and other donor countries, including in both cases their public and parastatal agencies, or from international organisations to certain external aid projects or programmes financed by the Community and managed by the Commission on their behalf, pursuant to the relevant basic act. This is a consequence of the new point (aa) that has been inserted into Article 18 i of the Financial Regulation.
Some budget remarks in the statement of revenue contain references to articles of the Financial Regulation that have been modified and they need to be adjusted accordingly. This is a purely technical update and concerns the following articles/items: 5000, 5001, 522, 6113, 6701, 6702, 6703, 6711, 6712 and 6802.
The following summary table shows the distribution of total own resources payments between Member States as budgeted in the Budget 2007, in the Amending Budget (AB) 1/2007 (that modifies the 2007 budget in order to integrate the necessary technical adjustments needed from the amending letter No 2/2007, which could not be taken on board during the last phase of the 2007 budget procedure), in the Preliminary Draft Amending Budget (PDAB) 2/2007 (that modifies the AB 1/2007 in order to mobilise the EU Solidarity Fund for the floods that hit Hungary and Greece in March and April 2006 and that modifies the structure of the budget for Research following the adoption of the 7th Framework Programme), in the PDAB 3/2007 (that modifies the PDAB 2/2007 as far as agencies are concerned), in the PDAB 4/2007 (that modifies the PDAB 3/2007 in order to budget the surplus from the previous year of EUR 1 847,6 million) and in the present PDAB 5/2007.
Budget 2007, AB 1/2007, PDAB 2/2007 & PDAB 3/ PDAB 4/ PDAB 5/ PDAB 5/2007 vs. PDAB 4/ PDAB 4/2007 vs. PDAB 3/
i i in % i = i – i i = i – i
BE 4 498 323 4 446 910 4 390 488 3.91% -56 422 - 51 413
BG 322 612 318 651 293 143 0.26% -25 507 - 3 961
CZ 1 216 863 1 199 458 1 223 785 1.09% +24 326 - 17 404
DK 2 344 743 2 309 042 2 266 698 2.02% -42 343 - 35 701
DE 22 461 580 22 095 850 22 174 684 19.77% +78 834 - 365 730
EE 138 567 136 596 168 181 0.15% +31 584 - 1 970
IE 1 676 005 1 651 304 1 635 073 1.46% -16 231 - 24 700
EL 2 104 756 2 072 642 2 012 841 1.79% -59 801 - 32 113
ES 10 828 853 10 669 617 10 259 967 9.15% -409 649 - 159 236
FR 18 338 461 18 047 137 17 558 049 15.65% -489 087 - 291 323
IT 14 603 278 14 371 367 14 505 207 12.93% +133 840 - 231 910
CY 178 627 176 289 172 731 0.15% -3 558 - 2 337
LV 188 436 185 803 194 006 0.17% +8 202 - 2 632
LT 270 700 266 837 270 938 0.24% +4 101 - 3 862
LU 258 243 254 133 283 183 0.25% +29 049 - 4 109
HU 928 912 915 038 916 214 0.82% +1 175 - 13 873
MT 57 460 56 699 56 165 0.05% -534 - 760
NL 6 378 649 6 294 174 6 282 581 5.60% -11 592 - 84 475
AT 2 390 769 2 349 306 2 381 673 2.12% +32 367 - 41 463
PL 2 747 200 2 705 502 2 810 883 2.51% +105 381 - 41 698
PT 1 552 361 1 527 960 1 469 429 1.31% -58 530 - 24 401
RO 1 067 905 1 051 655 1 134 803 1.01% +83 148 - 16 250
SI 321 017 316 200 312 679 0.28% -3 520 - 4 817
SK 461 026 453 852 512 062 0.46% +58 210 - 7 174
FI 1 659 737 1 633 061 1 652 037 1.47% +18 975 - 26 675
SE 3 022 806 2 973 502 3 073 512 2.74% +100 009 - 49 303
UK 14 270 042 13 961 715 14 168 350 12.63% +206 634 - 308 326
EU 114 287 945 112 440 313 112 179 373 100% - 260 940 - 1 847 631
According to established practice the Commission proposes to revise the financing of the budget on the basis of more recent economic forecasts, adopted at a meeting of the Advisory Committee on Own Resources (ACOR).
The revision concerns the forecast of TOR (customs duties, agricultural duties and sugar levies) to be paid to the budget in 2007 as well as the forecast of the 2007 VAT and GNI bases. The forecast in the Budget 2007 (and in the AB 1/2007, PDAB 2/2007, PDAB 3/2007 and PDAB 4/2007) was established at the 136th ACOR meeting on 19 May 2006. The revised forecast taken into account in the present PDAB 5/2007 was adopted at the meeting of the 139th ACOR meeting on 16 May 2007. The use of an updated forecast of own resources improves the accuracy of the payments that Member States are asked to make during the budgetary year and reduces the unavoidable forecasting errors from the previous year.
As compared to the forecast agreed in May 2006, the forecast agreed in May 2007 has been revised as follows:
- The total forecast of 2007 net agricultural duties is nearly unchanged at EUR 1 486,8 million (after deduction of 25 % in collection costs). Only the breakdown of this total forecast between Member States has been updated, using the latest information available on collected 2006 net agricultural duties.
- The total forecast of 2007 net sugar levies was dramatically reduced from EUR 533,1 million to - EUR 37,7 million (after deduction of 25 % in collection costs), notably following the payment in June 2006 of a higher than needed instalment for the balance of 2005/2006 levies. Consequently, the residual amount, to be paid in April 2007 for this balance, was eventually negative (i.e. a reimbursement to Member States, in order to adjust for the excessive instalment paid in the previous year). The revised total forecast and breakdown of forecast between Member States were provided by DG AGRI.
- Total 2007 net customs duties are now forecast at EUR 15 083,8 million (after deduction of 25 % in collection costs), which represents a decrease by – 1,3 % relative to the May 2006 forecast of EUR 15 287,9 million. The main reason for this decrease is a lower forecast of the weighted average tariff (1,54 %, as compared to 1,61 % last year). The forecast was made on a Member State basis, using DG ECFIN forecast growth rates of extra EU imports as published in the spring 2007 economic forecasts on 7 May 2007. Total 2007 net TOR are thus now forecast at EUR 16 532,9 million (after deduction of 25 % in collection costs), which represents a decrease by – 4,5 % (i.e. by – EUR 774,8 million) relative to the May 2006 forecast of EUR 17 307,7 million.
- The total 2007 EU uncapped VAT base is now forecast at EUR 5 713 353,3 million, which represents an increase of + 3,4 % as compared to the May 2006 forecast of EUR 5 527 693,0 million. The total 2007 EU capped VAT base i is forecast at EUR 5 519 105,65 million, which represents an increase of + 3,2 % as compared to the May 2006 forecast of EUR 5 347 310,9 million.
- The total 2007 EU GNI base is forecast at EUR 12 040 588,0 million, which represents an increase of + 3,0 % as compared to the May 2006 forecast of EUR 11 694 234,0 million.
The exchange rates of 29 December 2006 have been used for converting the forecast VAT and GNI bases in national currency into euro (for the thirteen Member States that are not members of the euro zone). This avoids distortions since it is this rate which is used to convert budgeted own resources payments from euro into national currency when the amounts are called in (as stipulated in Article 10 i of Council Regulation (EC, Euratom) No 1150/2000).
The revised forecasts of TOR (customs duties, agricultural duties and sugar levies), uncapped VAT bases and GNI bases for 2007, as adopted at the 139th ACOR meeting on 16 May 2007, are set out in the following table (rounded figures):
Agricultural Duties (75 %) Sugar levies (75 %) Customs duties (75 %) Uncapped VAT bases GNI bases Capped VAT base
BE 16. - 4. 1 580. 138 293. 328 116. 138 293.
BG 8. 0. 40. 16 206. 27 560. 13 780.
CZ 5. 8. 186. 67 170. 115 946. 57 973.
DK 36. - 2. 286. 93 824. 229 315. 93 824.
DE 195. - 22. 3 034. 1 007 267. 2 387 346. 1 007 267.
EE 0. 17. 22. 8 528. 14 413. 7 206.
IE 0. - 0. 216. 84 338. 160 630. 80 315.
EL 9. - 0. 220. 118 972. 202 577. 101 288.
ES 51. - 1. 1 247. 634 969. 1 015 698. 507 849.
FR 111. - 20. 1 269. 903 323. 1 848 336.0 8 336. 903 323.
IT 153. - 7. 1 505. 595 885. 1 512 833. 595 885.
CY 3. 7. 30. 12 177. 14 864. 7 432.
LV 1. 1. 24. 10 511. 18 811. 9 405.
LT 2. 0. 41. 12 060. 26 044. 12 060.
LU 0. 0. 20. 16 734. 29 823. 14 911.
HU 4. - 0. 114. 38 359. 92 613. 38 359.
MT 1. 0. 10. 4 040. 5 047. 2 523.
NL 263. - 5. 1 506. 268 580. 550 059. 268 580.
AT 3. - 2. 257. 117 479. 263 108. 117 479.
PL 41. - 2. 266. 145 342. 283 485. 141 742.
PT 24. - 0. 95. 94 027. 152 802. 76 401.
RO 26. 0. 134. 47 894. 113 604. 47 894.
SI 0. - 0. 37. 17 654. 31 193. 15 596.
SK 1. 2. 65. 22 616. 50 867. 22 616.
FI 6. - 0. 134. 75 868. 175 537. 75 868.
SE 17. - 1. 406. 143 333. 332 202. 143 333.
UK 497. - 3. 2 325. 1 017 892. 2 057 746. 1 017 892.
EU 1 486. - 37. 15 083. 5 713 353. 12 040 588. 5 519 105.
The correction of budgetary imbalances in favour of the United Kingdom (UK correction) to be budgeted in the present PDAB concerns two years: 2003 and 2006. As the UK correction of a certain year is to be financed in the following year, all 27 Member States participate in the financing of the 2006 UK correction. The financing of the 2003 UK correction, however, only concerns the 25 countries that were Member States in 2004.
The 2003 UK correction and 2006 UK correction are all subject to the rules of Council Decision (EC, Euratom) No 2000/597 and its accompanying working document, the 2000 Calculation Method i.
Pursuant to the above rules, the net “windfall gains” of the UK resulting from the increase as from 2001 in the percentage of TOR retained by Member States as a compensation for their collection costs are neutralised in the calculation of the UK correction, as well as pre-accession expenditure (PAE) paid under appropriations for payments relating to the year preceding the enlargement. The same adjustment for PAE will be followed at the occasion of each future enlargement of the Union.
Furthermore, the share of Austria, Germany, the Netherlands and Sweden in the financing of the UK correction is reduced to one fourth of their normal share. The reduction is financed by the other Member States, excluding the UK. These financing rules have an impact on the uniform rate of call of VAT, calculated as the difference between the maximum rate of call (0,50 % of the capped VAT base) and the frozen rate (whose calculation is based on the 2006 UK correction).
The difference between the 2003 UK correction (definitive amount) and the amount previously budgeted (in 2004) as well as the result of the entire recalculation of the financing of the whole amount of the 2003 UK correction on the basis of the latest data for 2004 is entered under chapter 35 of the budget, without any impact on the uniform rate of call of VAT.
The amount of the first update of the 2006 UK correction is entered under chapter 15 of the PDAB 5/2007, as a replacement of the amount of the provisional amount of the 2006 UK correction entered under chapter 15 of the Budget 2007.
In the present PDAB, the calculation and financing of the first update of the 2006 UK correction, as well as of the definitive amount of the 2003 UK correction are entered.
As far as the 2004 and 2005 UK corrections are concerned, the Commission shall (according to the 2000 Calculation Method) propose to budget an update if it differs significantly from the corresponding previously budgeted calculation. According to the Commission’s current calculations, the amount of the 2004 and 2005 UK corrections do not differ significantly from, respectively, the second update of the 2004 UK correction and from the first update of the 2005 UK correction, both entered in the AB 4/2006. Consequently, an update is not proposed for budgeting in the present PDAB 5/2007.
The following table summarises the changes between the provisional amount of the 2006 UK correction entered in the budget 2007 and the first update of the 2006 UK correction to be entered in the PDAB 5/2007.
UK share of notional uncapped VAT base 17.5894% 17.6888% + 0.0994%
UK share of PAE-adjusted total allocated expenditure 8.6985% 8.6868% - 0.0117%
= i - i 8.8909% 9.0020% + 0.1111%
Total allocated expenditure 100 442 931 96 930 892 - 3 512 039
Pre-accession expenditure (PAE) 1 815 757 1 837 927 + 22 170
PAE-adjusted total allocated expenditure = i - i 98 627 174 95 092 964 - 3 534 209
UK correction original amount = i x i x 0. 5 787 446 5 649 772 - 137 673
UK advantage 528 700 339 974 - 188 726
Core UK correction = i - i 5 258 745 5 309 797 + 51 052
TOR windfall gains 7 542 - 21 571 - 29 113
UK correction = i - i 5 251 202 5 331 368 + 80 166
The first update of the 2006 UK correction is EUR 80,2 million higher as compared to the provisional amount of the 2006 UK correction entered in the budget 2007.
The table hereafter summarises the changes between the 1st update of the 2003 UK correction entered in the AB 8/2004 and the definitive amount of the 2003 UK correction to be entered in the PDAB 5/2007.
UK share of notional uncapped VAT base 18.4963% 18.4058% - 0.0905%
UK share of PAE-adjusted total allocated expenditure 7.6761% 7.5941% - 0.0820%
= i - i 10.8202% 10.8117% - 0.0085%
Total allocated expenditure 82 025 811 81 204 065 - 821 745
Pre-accession expenditure (PAE) +
PAE-adjusted total allocated expenditure = i - i 82 025 811 81 204 065 - 821 745
UK correction original amount = i x i x 0. 5 857 732 5 794 476 - 63 255
UK advantage 447 826 489 158 + 41 331
Core UK correction = i - i 5 409 905 5 305 317 - 104 587
TOR windfall gains 18 346 20 223 + 1 877
UK correction = i - i 5 391 559 5 285 094 - 106 465
The definitive amount of the 2003 UK correction is EUR 106,5 million lower as compared to the first update of the 2003 UK correction entered in the AB 8/2004. The difference is due to the combined effect of five factors, which can be quantified as follows:
- The decrease in the UK share of uncapped VAT base decreases the 2003 UK correction by around EUR 49,0 million.
- The decrease in the UK share of PAE-adjusted total allocated expenditure increases the 2003 UK correction by around EUR 44,4 million.
- The decrease in PAE-adjusted total allocated expenditure decreases the 2003 UK correction by around EUR 58,7 million.
- The increase in the so-called “UK advantage” decreases the 2003 UK correction by EUR 41,3 million.
- The increase in the so-called “TOR windfall gains” decreases the 2003 UK correction by EUR 1,9 million.
3.2. Entry in the PDAB 5/2007 of the first update of the 2006 UK correction and of the definitive amount of the 2003 UK correction
The amount of the UK correction to be budgeted in chapter 15 of the present PDAB 5/2007 is the amount of the 1st update of the 2006 UK correction (i.e. EUR 5 331 368 973 replacing the EUR 5 251 202 631 entered in the budget 2007).
This amount is to be financed along the revised 2007 GNI bases of the present PDAB 5/2007. The budgeting of this amount in chapter 15 is summarised below:
BE 247 212 LU 22 469
BG 20 764 HU 69 777
CZ 87 357 MT 3 802
DK 172 772 NL 73 440
DE 318 742 AT 35 128
EE 10 859 PL 213 586
IE 121 023 PT 115 125
EL 152 627 RO 85 592
ES 765 255 SI 23 502
FR 1 392 588 SK 38 324
IT 1 139 811 FI 132 254
CY 11 199 SE 44 353
LV 14 173 UK -5 331 368
LT 19 622 Total
The financing of the definitive amount of the 2003 UK correction is entered in chapter 35 of the present PDAB 5/2007 along the 2004 GNI (and VAT) bases i as known at the end of 2006. The amount budgeted in chapter 35 includes:
- the adjustment as regards the direct effect, i.e. the difference between what each Member State should pay for the definitive amount of the 2003 UK correction (along the 2004 GNI bases i as known at the end of 2006) and the corresponding amounts previously budgeted (i.e. the payments for the financing of the 1st update of the 2003 UK correction budgeted in the AB 8/2004),
- the adjustment as regards the indirect effect, i.e. the difference between the implicit impact on Member States’ VAT and GNI payments of the definitive amount of the 2003 UK correction (along the 2004 VAT and GNI bases i as known at the end of 2006) and the implicit impact i on Member States’ VAT and GNI payments of the 1st update of the 2003 UK correction in the AB 8/2004 (along the 2004 VAT and GNI bases i in the AB 8/2004).
The financing of the definitive amount of the 2003 UK correction in chapter 35 of the present PDAB 5/2007 is summarised below:
Definitive amount (direct effect along 2004 GNI bases as known at end 2006) 1st update (direct effect budgeted in AB 8/2004, i.e. along 2004 GNI bases as of AB 8/2004)Adjustment direct effect Definitive amount (indirect effect on VAT/GNI contributions in the 2004 budget, as recalculated at end 2006) 1st update (indirect effect on VAT/GNI contributions in the AB 8/2004)Adjustment indirect effect TOTAL (to be budgeted in chapter 35 of PDAB 5/2007) i(2)(3) = i - i(4)(5)(6) = i - i(7) = i + i BE 265 454 271 066 - 5 611 + 25 838 + 34 980 - 9 142 - 14 753 BG --------------------- CZ 49 540 50 571 - 1 031 - 5 048 - 4 471 - 576 - 1 608 DK 177 715 185 072 - 7 356 + 25 800 + 28 450 - 2 650 - 10 006 DE 341 499 355 741 - 14 241 + 100 090 + 110 399 - 10 308 - 24 550 EE 5 355 4 929 + 425 - 545 - 435 - 109 + 315 IE 113 359 113 194 + 164 - 11 552 - 10 008 - 1 543 - 1 378 EL 152 756 157 940 - 5 184 - 15 567 - 13 965 - 1 601 - 6 785 ES 748 626 752 373 - 3 747 - 76 290 - 66 526 - 9 763 - 13 511 FR 1 510 366 1 545 977 - 35 610 - 65 397 - 35 300 - 30 096 - 65 707 IT 1 249 116 1 279 773 - 30 656 + 184 976 + 130 952 + 54 023 + 23 366 CY 7 336 7 695 - 358 - 747 - 680 - 67 - 425 LV 6 624 6 101 + 523 + 639 + 288 + 351 + 874 LT 10 740 10 884 - 143 + 866 + 204 + 662 + 518 LU 20 091 21 172 - 1 080 - 2 047 - 1 872 - 175 - 1 256 HU 46 474 46 817 - 343 + 1 679 - 4 139 + 5 819 + 5 476 MT 2 598 2 819 - 221 - 264 - 249 - 15 - 236 NL 78 108 75 423 + 2 684 - 6 046 - 22 329 + 16 283 + 18 967 AT 36 285 37 537 - 1 251 + 6 430 - 2 694 + 9 125 + 7 874 PL 117 499 116 389 + 1 109 - 10 411 - 10 291 - 120 + 989 PT 127 114 126 607 + 507 - 12 953 - 11 194 - 1 758 - 1 251 RO --------------------- SI 15 618 16 342 - 723 - 1 591 - 1 445 - 146 - 870 SK 20 363 20 235 + 128 + 2 696 + 313 + 2 382 + 2 510 FI 138 679 141 167 - 2 487 + 9 591 + 7 322 + 2 269 - 218 SE 43 767 45 725 - 1 957 + 14 611 + 15 008 - 396 - 2 353 UK -5 285 094 -5 391 559 + 106 465 - 164 756 - 142 312 - 22 443 + 84 021 Total
28–29).
1–26).
13–45).
[2000/597] on the system of the EU own resources” referred as the 2000 Calculation Method and available on: ec.europa.eu/budget/library/documents
‘frozen rate’) and therefore also on the uniform rate of call of GNI (increased to compensate for the reduced VAT payments).